Image courtesy: teamBHP
Following cab aggregators Uber and Ola, the parent company of edtech firm Byju’s is now being investigated by the Goods and Services Tax (GST) department’s intelligence wing for suspected tax evasion.
According to show-cause notices given to the firm, Think & Learn Private Limited (TLPL), the parent of Bengaluru-based Byju’s, is being investigated in two cases of alleged GST evasion totaling Rs 43 crore.
On December 31, 2020, the GST department issued show-cause notices to the organisation in connection with both of the cases it had opened. ( The two show-cause notices have been checked by Moneycontrol.)
According to people familiar with the situation, the investigation is focused on the production and selling of books, tablets, and SD cards that Byju’s offers to its students. According to one of the people who did not want to be identified, the GST department claims the unicorn refused to reveal details about these products and therefore sought to avoid paying taxes.
The GST department’s intelligence wing launched an inquiry into the organisation between March 2015 and June 2017. On July 2, 2018, the department searched Byju’s home and discovered a pen drive containing data that was reportedly important to the investigation.
(Source credit: money control)